Its FR will soon be announced. It is most probably by end of this month. Otherwise its FR ended 31.12.12 may be announced in early of Feb'13. Should its results be positive, likely its share price will fly. Buy when its price dips down

Dividend payment will soon be announced for RM0.40. Thus, suggest to buy

Now it is a good buy with good support of 35.5. - 36 cents. EGM is on 31.1.13 with positive sign of acceptance from major shareholders for IJM's entry. May see a uptrend soon

Likely it will drop to 10 cents with concern of GE coming

IJM: Entry into Scomi to get nod. Shareholders of Scomi Group, including factions that had previously opposed the entry of IJM Corp, are now ready to vote in favour of the construction giant becoming the former's biggest shareholder, sources familiar with the situation said. This means the proposed issuance of MYR110m worth of bonds to IJM, the sole item on the agenda for the EGM set for Jan 31, is likely to sail through, contrary to earlier reports that two opposing sides within Scomi were preparing to lock horns. The bond issuance, when converted, would make IJM the single largest shareholder in Scomi with a 24.4% stake. IJM, which now has a 10% interest in Scomi first emerged in the oilfield services provider last September when it subscribed to a private placement for 33 sen a share, or MYR33m. (Source: The Star)

Continue to see uptrend with next resistance at 39.5 cents

Scomi, IJM : Gets nod to list 348.87m new shares. Scomi Group Bhd has received Bursa Malaysia's nod to list up to 348.87m new shares upon the conversion of the MYR110m bonds issued to IJM Corp Bhd. The new shares, which will be at 10sen each, will be issued following the conversion of the bonds. The bond issuance is part of the corporate restructuring exercise undertaken by Scomi Group, which will see IJM Corp emerging as the single largest shareholder in Scomi, with a 25% stake. (Source: Business Times

Yup,thanks to Necro for sharing

Its FR should be announced by end of this month 2013. Hope to see uptrend profit which may boost up its price movement.

TH Heavy Engineering Bhd (THHE) is confident of catching up with its larger local rivals in the offshore oil and gas services industry. Managing director Nor Badli Mohd Alias said failure is not an option for the O&G services provider. THHE is in the midst of expanding its fabrication yard space in Pulau Indah, Port Klang. "Yes we may be small in terms of yard space but what people don't realise is that we possess the advantage of being at the most strategic location compared with other fabricators within the Klang Valley," Badli said. (Financial Daily)
Source: CIMB Daybreak - 14 January 2013

This will boost up its price movement. May consider to buy when its price dips down.

Possible capital repayment plan of 40 cents will soon be announced soon

Scomi: Eyes more monorail deals. Scomi Engineering aims to secure one third of the USD45bn (RM137.2bn) worth of new monorail projects that will be implemented in Asia and South America over the next five years. Scomi group COO of transport solutions Kanesan Veluppillai said, in India, the value of new monorail projects is around USD25bn and USD15bn in Brazil. Pipeline monorail projects in Taiwan, Indonesia and Thailand make up about USD10bn. (Business Times)

Scomi Group Bhd confirmed that it had supported a bid submission for Petronas' Tembikai and Chenang cluster risk service contract (RSC) project Terengganu. Scomi did not name the foreign partner for the RSC bid, but The Edge Financial Daily reported that the foreign partner was Cue Energy Resources Ltd of Australia. (Financial Daily)
Source: CIMB Daybreak - 14 January 2013

Its quarterly FR ended 31.12.12 will be announced next month. Its sudden surge has seen cooling off with its closing of 11 cents but buying price at 10.5 cents. Expected its price will be back to range of 10-10.5 cents. Overall, though its private placement has not been approved, its regularisation plan is still intact. May consider to buy when its price dips down soon. Supporting price is at 10-10.5 cents

Scomi Group Bhd has secured a RM380m contract for a drilling fluids and completion services job in Indonesia, pushing its orderbook to RM603.6m in this segment. The three-year project starts in July 2013. The oilfield services segment now has a total orderbook of RM1.7bn and Scomi is participating in tenders in excess of RM3bn (Malaysian Reserve).

A LONG time owner of 10,000 shares of Scomi Group Bhd has been excitedly stirred by the recent goings on at Scomi Group Bhd. Like a load of existing individual shareholders of Scomi Group, this investor had acquired the shares at a much higher price during the company's heydays. And like many of these shareholders, this investor had naturally “written off” this investment, considering Scomi Group's depressed stock price for the last few years.

But with Scomi hitting the news on a weekly basis these days, this investor is hopeful. “In Scomi's case, any news is good news, considering its been quiet for so long.”

Most of all, the investor's excitement has stemmed from one fact: IJM Corp Bhd's entry. The thinking is that with the established IJM coming into the picture, Scomi Group will be better run, more contracts could be secured and business could boom.

But is that hope justified or in other words, will the Scomi Group/IJM picture turn out as honky dory as many expect?

There are some challenges.

Firstly, is the question of whether IJM will indeed surface as the single largest shareholder of Scomi Bhd, as has been planned.

To recap, IJM has bought and paid for just under a 10% stake in Scomi Group. As part of the deal, IJM is to secure an additional 15% by subscribing to RM110mil worth of debt papers to be issued by Scomi Group. Those debt papers could then be converted into shares.

A vote by a simple majority of Scomi Group shareholders (excluding IJM's block as it will not be allowed to vote) is needed for this additional 15%, via the debt papers, to be issued to IJM. The big question now is, will this vote go through?

StarBiz had speculated recently that businessman Tan Sri Abu Sahid Mohamed was strengthening his position in Scomi Group.

Adding to this, a recent report has indicated that there is a complication in the current controlling block of Scomi Group, a 14.63% stake jointly owned by Scomi Group's chief executive officer Shah Hakim Zain and Datuk Kamaluddin Ahmad, the son of former Prime Minister Tun Abdullah Ahmad Badawi.

If this report is accurate, namely that Shah Hakim and Kamaluddin are looking to split up their ownership in this block, then its possibly another hurdle to IJM securing their additional 15% in Scomi Group.

What more, shareholders like Abu Sahid have indicated their unwillingness to have IJM take control of the former. Abu Sahid has a 8.71% interest in Scomi Group while his associate Datuk Phillip Siew Mun Chuang has acquired a 5.61% stake.

While the motives and ultimate goals of this group of seemingly opportunistic investors in Scomi Group remain unclear, the fact is that they are now rightful owners of significant blocks of shares in Scomi Group and will have a strong say in decisions that need to be approved by shareholders.

A second possible issue facing the Scomi Group/IJM partnership relates to the anticipated risk-service contract (RSC) that it is close to securing from Petroliam Nasional Bhd (Petronas) for the Tembikai and Cenang marginal fields off Peninsular Malaysia.

StarBiz broke the news in September that Scomi Group is believed to be among the frontrunners to snag the RSCs for those marginal oilfields.

The two fields are said to be lucrative as they are in shallow waters and have the most reserves, with the contracts valued at between US$200mil (RM620mil) to US$400mil (RM1.2bil) each.

If and when secured, that would bode well for Scomi Group as well as IJM, whose entry into Scomi Group was largely premised on it (IJM) wanting to get back into the oil and gas business.

Market talk is rife that Scomi Group is as good as having secured at least one of the two RSCs. But market talk also has it that the RSC will actually be parked under Scomi Group subsidiary, Scomi Marine Bhd, which boasts a healthier balance sheet and which is also the group's oil and gas division.

The market is awaiting some clarity on this from Scomi Group.

In any event, such a prospect bodes well for Scomi Marine shareholders, whose stock has seen some intense speculative buying in recent weeks.

But does that mean that IJM would have done better by buying into Scomi Marine?

On the other hand, an on-going group wide restructuring will see Scomi Group owning more than 60% of Scomi Engineering. So the thinking goes that IJM, if and when it is in control of Scomi Group, should have in turn, good control over Scomi Marine.

But that theory will fall short of materialising if IJM does not get their additional 15% in Scomi Group.

Hence in the words of one market observer who claims to be in the know of events unfolding at Scomi: watch this space.

Time to buy with recent project granted

PETALING JAYA: The race for the risk-service contract (RSC) to be awarded by Petroliam Nasional Bhd (Petronas) for the Tembikai marginal oilfield off Peninsular Malaysia has re-opened after the bid by frontrunner Scomi Group Bhd-Cue Energy Resources Ltd is said to have faced some problems.

The development was related to management issues facing the Australian-based Cue Energy, sources revealed.

A Nov 14 filing with the Australian Stock Exchange (ASX) showed that Cue Energy's chief executive officer Mark Paton had resigned on that day. The board appointed an interim CEO, but then its chairman also decided to throw in the towel.

In the chairman's address filed with the ASX the following day, chairman Richard Tweedie said he too “will be vacating the chair position and resigning as a director in 2013”. He named a new interim chairman. Rarely do the chairman and CEO of a company leave at the same time, pointed out market players, unless it was a signal that all was not well.

In addition, in his chairman's address, Tweedie pointed out that Cue Energy's total production volumes in 2012 fell by 23%, with oil production volumes falling substantially by some 44.28%. Cue Energy's largest producing asset is the Maari oil and gas field in New Zealand, although this asset has turned out to be a disappointment due to a string of technical difficulties, according to Australian news reports.

The company's notes to accounts in its latest annual report stated that a dispute had erupted over the Jeruk oil and gas field in Indonesia, which is operated as a joint venture with Australian and Indonesian partners, for which a maximum provision of US$5.3mil (RM16.11mil) had been booked. Arbitration is scheduled to try and settle the dispute.

Scomi officials had yet to respond to queries at press time.

With the Scomi-Cue Energy bid rumoured to be out of the running for now, one party that's going to be vying hard for the RSC will be tycoon Ananda Krishnan's Bumi Armada Bhd, which had earlier sought to secure the RSC.

Industry sources indicate that SapuraKencana Petroleum Bhd, which is already doing well with its first Petronas RSC for the Berantai oilfield, could also be interested. The Berantai field, which is located about 150km offshore Terengganu, is close to the Tembikai oilfield.

In October last year, StarBiz had quoted Bumi Armada chief executive Hassan Basma as saying that the company had tendered for two RSCs from Petronas but declined to reveal the name of its international partner or the marginal oilfields involved. Some analysts had said that Bumi Armada was poised to secure an RSC contract by 2013, given its strong balance sheet, outstanding track record and synergistic oilfield services that fit into the criteria for RSCs.

Industry players had said that bidding for Tembikai was extremely competitive as it was said to be among the juiciest marginal oilfields in shallow waters with the most reserves to boot.

Petronas' goal is to develop one-quarter of the country's marginal fields, and it had said in March 2012 that it would announce the contracts for 22 additional fields in the near future.

It is unclear how this new development might affect Scomi's ongoing corporate restructuring that would see Scomi Marine Bhd emerging as a full-fledged integrated oil and gas (O&G) marine and drilling services provider to take on more O&G jobs.

Also vague is whether this would change IJM Corp Bhd's view of its investment in Scomi its vehicle to regain entry into the lucrative O&G sector. Last year, IJM Corp had bought a 10% stake in Scomi and would emerge as the party clearly in control if Scomi issues debt papers to it that can be converted into another 15% equity holding in Scomi.

http://biz.thestar.com.my/news/story.asp?file=/2013/1/10/business/12556271&sec=business

Slow but really need patience to wait

Agreed as Scomi has proven its capabilities with billion of projects in hand for its ASIA countries penetration such as India, Myanmar and finalising for Indonesia. Suggest to buy and hold for a good rebound soon

Overall, it is good opportunity to buy as IJM will eventually be a major shareholder.

May buy further should there be any opportunity of its price dips down. Overall it is a good chance to target 30-40% gain in near future when the company is uplifted from PN17.

Concurred to your view - risk trader as it was commented by a renowned fund mgr (Spore) of their view of Scomi's performance in view of its vast exposure in recent monorail project in India, Mynmar and coming one may be Indonesia. Thus. suggest to buy now which believe of impressive performance in 2013.

Business Times DD 28.12.12
IJM Corp Bhd, one of the country's biggest construction companies, has a reputation of being a value buyer, snapping interest in several rival companies. Yet, IJM's entry into Scomi Group Bhd has raised eyebrows.
This is given that IJM could be stepping into a very messy and prolonged battle to control the company.
IJM's purchase of a stake in Scomi is unlike its takeover of Road Builders Bhd and Kumpulan Europlus Bhd.
Both investments have reaped dividends for IJM, hence helping build its reputation as a value buyer.
In Scomi, there could be potential minefields lurking around the corner, although thus far, all the substantial shareholders have been very cordial with each other.
There has been no moves to gain control of the board.
The emergence of so many new shareholders, however, points to something bigger than control of the board: A move to gain control of the shareholding of the company, perhaps.
IJM currently owns about eight per cent of Scomi, while the other new shareholders in the company - Tan Sri Abu Sahid Mohamed and parties aligned to him - control slightly more than that.
Abu Sahid reportedly opposed a deal to issue some RM110 million renewable convertible bonds to IJM.
The deal will see IJM emerging as the single largest investor in Scomi.
The Securities Commission approved the deal early this month. The approval has laid the track for a potential bitter corporate tussle.
But before that happens, IJM will have to get Scomi shareholders to vote in favour of the bonds issue at a special shareholders meeting.
The catch here is IJM will not be able to vote at the meeting as it is an interested party in the deal.
With its hands tied, the extraordinary general meeting to be held in 2013, will see IJM banking on good sense prevailing among the retail shareholders.
Retail shareholders, just like any other type of shareholders, not only expect the company to be run professionally. They also expect to see improvements in the share price.
For them to see the value in supporting IJM's interest, the onus is with IJM itself to start talking the talk.
Thus far, the research community feels that IJM sees Scomi's interest in the oil and gas business as a long and sustainable business, and that IJM itself could use it own construction expertise to help turn Scomi into an integrated oil and gas player.
Scomi is one of only four firms in the world that supply drilling fluids services. The others are international players, such as Baker Hughes, Schlumberger and Halliburton.
There is room for growth as Scomi's global share of the US$5 billion (RM15.35 billion) market is only at seven per cent. Nevertheless, it provides an opportunity for Scomi to expand into larger integrated oil and gas project, which has long-term recurring income.
Scomi's oil and gas division has an order book of about US$650 million and it is expected to rise further in the coming months.
As it had previously been involved in the oil and gas sector, IJM might still know thing or two about the sector.
IJM's previous exposure to the oil and gas industry was via fabricator, Torsco Sdn Bhd, which owned a fabrication yard in Lumut, Perak.
IJM sold Torsco Kencana Petroleum in August 2007 for RM75 million.
IJM also previously held a stake in a subsidiary of Eversendai Corp before hiving it off prior to Eversendai's listing last year.
Then, of course, there is the rail transport business of Scomi.
Today, Scomi is seen as one of the world's top monorail makers in the world. The company has contracts running into the billions of dollar in India and Brazil.
There is no doubt that IJM can add value and synergy to the rail transport business of Scomi, by marketing Scomi's expertise under the IJM banner, which has more mileage in the development sector here and abroad.
The planned investment into Scomi, however, is not a one-way traffic.
IJM's RM140 odd million gambit on Scomi, if successful, could just be the bounty that helps IJM itself as a company grow to the next level in the global market place.

Scomi may rebound if it can close above the two-day high of RM0.36. A purchase can be made if this happens, with a close below RM0.345 as a stop-loss. The price target is RM0.45, should the recent high of RM0.40 be broken. Failure to surpass RM0.36 could see the stock trend lower, with supports expected at RM0.325 and RM0.30.

It seems director exercising its right over ICUL. Believe the company is doing well. Thus may consider stake in this counter while it is trading sideway

***** It should be a great news. Expect to be rebounded with a target price of 60 cents soon. Indeed, there is a news in business times dd 26.12.12.

WELL DONE: Mustapa lauds company for excellent job on Mumbai monorail project


INTERNATIONAL Trade and Industry Minister Datuk Seri Mustapa Mohamed yesterday commended Scomi for its excellent US$527 million (RM1.6 billion) monorail project here.

This signals the growing acceptance of Malaysian-made brand overseas, which augurs well for the country, he said after a briefing by Scomi International president Kanesan Velupillai.

Also on hand to welcome the minister were Scomi Group chief executive officer Shah Hakim Zain and staff of the local set-up.

Mustapa also test-drove a section of the Chembur to Wadala route.

Scomi is accelerating its continued growth as a world-leading manufacturer of innovative transportation solutions especially in monorail systems and focusing on emerging markets such as India, Brazil, Sri Lanka, Bangladesh, Thailand and the Middle East. Indonesia is set to be next on its expansion plan.

The company is also pursuing opportunities in leading cities such as Delhi, Chennai and Bengaluru in the Indian sub-continent.

Kanesan also said the fact that Malaysian-made cars from Rawang, Selangor, will be plying here shows Scomi's capabilities in competing against its competitors, namely Hitachi and Bombardier.

Scomi and its consortium partner, Larsen & Toubro, secured the Mumbai monorail project from the Mumbai Metropolitan Region Development Authority (MMRDA) in November 2008. The Malaysian company will be delivering 60 cars to make up 15 sets of four-car trains carrying 600 passengers on each set. This will alleviate the chronic traffic situation in Greater Mumbai, which has a population of 18 million people.

The project would have been due for completion this year if not for the terrorist attack in May 2009. The project, which can save 200 tonnes of carbon dioxide a day, is now scheduled to be opened next year.

Read more: Scomi does Malaysia proud http://www.btimes.com.my/Current_News/BTIMES/articles/skmani/Article/#ixzz2GAoqvbe5
26/12/2012

SCOMI, which is bidding for several monorail projects in India, expects to deliver all the four-car train sets for the Mumbai monorail by June next year.

The group is manufacturing 15 sets of third generation four-car trains for the Mumbai monorail at its plant in Rawang, Selangor. It has so far delivered six sets.

"We have two more sets at the Rawang plant, ready for delivery. Between now and June next year, we hope to deliver the rest," said Scomi group chief operating officer of transport solutions, Kanesan Veluppillai.

Kanesan said the major accomplishment for Scomi for the Mumbai monorail was the successful testing of the four-car trains at 80kph, a feat that was never done before with its existing monorail cars.

"We are proud as these high-speed monorail cars were built and tested in Malaysia, dismantled, shipped to Mumbai and re-assembled. It reflects not only the ability of Scomi as a group but the people involved in the project," he said during a visit to the project site.

Kanesan said another accomplishment for Scomi was the successful integration of the car system, communication, signalling, electrical and civil system interface.

Scomi is not only building the trains but is also involved in designing the entire monorail system according to the client's specifications.

"Seeing the trains run on the tracks here (Mumbai) is a major milestone for us. This is a Malaysian-made product and today, we are recognised globally because of the technology we put behind in implementing the system," Kanesan said.

Scomi won the US$527 million (RM1.6 billion) monorail project in the Mumbai Metropolitan Region with its consortium partner Larsen & Toubro (L&T) Ltd, in November 2008. Scomi has a 49 per cent stake in the consortium with L&T holding the rest.

The Mumbai monorail is the first such project in India, which is planning new lines across the nation.

The project, which comprises Line 1 (8.9km) and Line 2 (10.7km), is being implemented on a build, operate and transfer basis (BOT) for at least 30 years.

Line 1 of the Mumbai monorail from Wadala to Chembur has been completed. It is expected to commence operation in February next year.

Line 2, from Wadala to Jacob Circle, will start operations a year later, Kanesan said.

Scomi's India unit, Urban Transit Pte Ltd, will be in charge of the operations and management of the full completion of the project for a duration of six years.

The group has about 100 personnel, including 15 who are Malaysians, trained in all aspects from operations control, depot and rolling stock maintenance, and OEM (original equipment manufacturer).

Read more: Scomi trains to run in Mumbai http://www.btimes.com.my/Current_News/BTIMES/articles/mubai/Article/index_html#ixzz2GAr4WwXc

Share same comments as more buyers it seems. It has strong support of buying spree at 10.5 cents. Suggest to hold and believe its uptrend in near future

Its previous right issue was also the same

Yup, may be around 60 cents as its right issue is also 60 cents.

Maybank recent research : Scomi: Tracking KL monorail system. Scomi Engineering Bhd plans to take the government-owned Kuala Lumpur monorail system private and expand the services to Bandar Sunway, in a deal that could be worth over MYR3b. (Source: Business Times)

Already dropped to a bottom low for the 3 mths with its implication of call-off deal for Scomi-IJM. However, believe the game is not over. In reality, they may be a short term technical rebound. Buy on weakness, may expect 5-10% gain

Yup, agreed with Matsaham that its support may be 69 cents or lower. Buy on weakness & aim for short term gain

Dah rugi. Counter suspended with thought of great news. News nothing but felt cheated. A lot of people threw the shares. Bought high sell low ? Cut loss and spoke to market analyst and was advised to sell which is approaching to 2013. Suggested me to dispose with cash holding which market speculates of possible election at early of yr 2013 with share high tendency of 20-30% drop. Be prudent. Cash is the king.

Buy mother shares as its warrant price is close to mother price. Furthermore its conversion price add to warrant is almost 70-80% higher? Worth or not, you decide?

Chartist commented that it is still a down trend. Who is selling now ? EPF and fund houses are the culprit to its major drop. Its bottom is not yet reached, suggest to stay away till its rebound

Today closing at 11.5 cents, trading range 11.5-12 cents. May see rebound only with new lead. Currently trading sideway

Support will be at 64 cents as per research house. Now is not the bottom with down side trend another 5 to 7 cents. Be prudent

Affin Research said it was neutral on the development and it maintained its earnings forecast.
"Share price has fallen to a low of 70 sen following the recent announcement of the capital raising exercise. Given the tough operating environment coupled with the group's financing risk for its huge capex programme, we maintain our SELL recommendation.
"We have lowered our target price of to 64 sen (from 85 sen previously) based on a price-to-net tangible asset multiple of 1.0 time on higher risk of more capital raising exercise," it explained.

Agreed with Mat Cendana and Bathgel which Mas may trade lower if it continues to keep silent to its details of capital reduction

Believe it will trade sideway with no fresh lead and awaiting for election news

Be patience, believe it will move back in near future. Awaiting for market maker to 'goreng' . Pending announcement of some stimulating news, then it will back to its earlier pricing of 12 cents, and gradually move up in a quantum leap

Yup, buy when it dips down. Believe it will move up this week as last week its price was pushed down to benefit private placement at a discounted price to be fixed at 10 cents. Thus no news means good opportunity to buy while pending for announcement of this mystery new substantial shareholder and uplifting from PN17

Brother, concurred to your view. Expect small range of pricing. Pathetic range

Agreed with Pak Lah. It seems EPF has initiated the selling pressure which was followed by most fund managers. Only us ignorant retailers jump to buy. Sigh! Sigh! Sigh!

MAS is proposing a capital reduction of par value from RM1.00 to RM0.10, this is to write off its loss from its share premium. Furthermore its renouncement right issue may fix a share price of below its current price which analyst is speculating its price to be below 50 cents. Thus this may push its price lower. It is advisable to dispose and wait for a strong support to enter again

Small range of trading 41-43 cents, no much excitement even during recent UMNO assembly. Perused its FR ended 31.12.12 and noted no much big plan in near future. May consider to monitor when it drops to 40 cents